08 February 2013 06:58 [Source: ICIS news]
SINGAPORE (ICIS)--China’s consumer price index (CPI) climbed 2.0% year on year in January, while producer price index (PPI) dropped 1.6%, official data from China National Bureau of Statistics (NBS) showed on Friday.
Rising food prices mainly contributed to the increase in CPI. Seasonal demand and the coming Lunar New Year holidays on 9-15 February resulted in food price rise, an analyst from the Renmin University of China said.
China’s producer price index (PPI), which is a gauge of wholesale prices, declined by 1.6% year on year in January, but was up by 0.2% month on month, the data showed.
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